Moniepoint raises $90 million to close Series C

October 21, 2025

Moniepoint raises $90 million to close Series C as Visa and Google deepen Africa bets, bringing the total to $200 million after its initial $110 million raise in 2024.

The fresh investment was led by Development Partners International (DPI), with participation from the International Finance Corporation (IFC), Leapfrog Investments, Google’s Africa Investment Fund, and Visa.

The round highlights growing investor confidence in Moniepoint’s long-term strategy and the broader potential of Africa’s digital financial ecosystem.

“We will not rest on our laurels. The proceeds from our landmark Series C will be deployed judiciously to generate even more momentum as we enter the next chapter of Moniepoint’s story – with financial happiness for Africans everywhere remaining our ultimate goal,” co-founder and CEO Tosin Eniolorunda said in a statement.

Visa’s participation is particularly notable as the global payments company continues to deepen its involvement with Africa’s leading fintechs.

Beyond Moniepoint, Visa has backed other key players such as Interswitch, Paystack, and Flutterwave, while also launching a fintech accelerator programme to nurture the next generation of financial services innovators across the continent.

Although Moniepoint did not disclose its latest valuation, the company confirmed that the round places it well above the $1 billion mark, a milestone it first crossed in 2024 when it announced the earlier Series C tranche.

From its beginnings as a software provider for Nigerian commercial banks, Moniepoint has grown into one of Africa’s most successful fintech companies.

It became a household name through its agency banking network, which brought financial services to millions of underserved Nigerians.

Today, the company claims to serve more than 10 million personal and business banking customers. The company says it is already profitable and now processes transactions worth over $250 billion annually.

In recent years, Moniepoint has expanded beyond agency banking, leveraging its microfinance bank licence to offer personal and business banking products.

It has also ventured into international markets, starting with the United Kingdom, where it aims to provide digital banking services tailored to Africans in the diaspora.

However, its expansion efforts have not come without challenges. This month, Techpoint Africa reported that Moniepoint posted a $1.2 million loss, which the company attributed to early investments in setting up its UK operations.

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